The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-18
THE BROKEN WHEAT CLIQUE
No Sensational Developments Yester-
day, and Nothing Exciting Expected.
The Affair Involved in Maze of Lawsuits
Where the Money Came from-Efforts to
Connect P. D. Armour with the Deal.

ed. kershaw has got no more FUNDS, ana Will
not get any more The whole affair has now be-
come so entangled between the Fidelity Bank,
of Cincinnati. and the American Exchange Ma
tional Bank here, and there are now so many
legal complications, that whatever funds should
come here would undoubtedly be swal-
lowed up without doing anybody
in the trade much good. The at
fairs of C. }. Kershaw & Co. are so desperate
that Eggleston. the special partner whose liza
bility general partner is claimed. is putting
his property out of his hands. Attachments and
injuuctions will undoubtedly be gotten out
against him to-day The cash wheat
will net come on the market,
so that the panic of prices is over Ar
mour sent to all the banks last night offering
to relieve them then, today, at any moment.
of whatever cash wheat they held. They all re-
turned answer that they had no wheat for sale.
and did not expect to have any Only one small
lot has been sold SO far, and that Was gobbled
up off the market. The cash price, 73s cents. for
July wheat, showed no panicky feeling.
The wheat market opened steady at 1850 for
July, q considerable advance over the lowest
prices of the panic. The feeling was. naturally
enough, excited. and auctuation of a &c was
not considered worthy of explanation.
A member of one of the clique firms. in a con-
versation with reporter. cleared up some OF
the secrets of the attempted wheat corner. The
clique had about 81, 900. 900 of its own money
here with which to margin the cash wheat and
options There never was moment, up to last
Monday. when there was any hitch in monetary
matters. The trouble then arose, probably from
the enormous arrivals of cash wheat 1t had
not beer anticipated that the cash wheat re-
eeipts in June would average more than
than 1000 for the month. There were 5. 900 cars
received in the first ten days, and it was plain
that one important calculation had miscarried.
The cash wheat absorbed the cllques mo ney
about twice as fast as was expected. That there
was some uneasiness, however, among the clique
brokers week ago. was evidenced by their
Thursday. Friday and Saturday, Dewar Ker-
shaw's partner. there last Friday, and John
son, of Rosenfeld & Co., was there last Satur-
urday and Sunday. On last Monday. June Is,
If none of the clique orders were bucketshop-
PED, they had. besides 16, 600 900 bushels of cash
wheat 20, 600. 900 Of unsettled June options.
Wiltshire got here Monday, and inter-
view at the Ricblieu on that night was held be-
tween kershaw, Green of Irwin Green % Co,
and johnson, of Rosenfeld. Wiltshire & Hoyt- 1t
Is denied that there were any sensational devel-
opments at that meeting, but Wiltshire is de-
scribed as a little nervous. He left at $50 for
Cincinnati, promising that funds would be wired
in the morning Wiltshire now claims that there
was no such pressure Rosenfeld & Co. claim
on Tuesday morning on clique business, but that
it came from holdings by Rosenfeld & Co.. of
taller wheat.
The clique money came from Cleveland, Phil
adelphia Cincinnati and New York. The $780,.
600 brought here Wednesday consisted of four
800. 900 drafts the Fidelity Bank. of Philadel
phia and a letter of credit for 5000 900 from the
Fidelity. of Cincinnati The only money ever
taken out Of the town by the clique was $780,
000 paid over by Rosenfeld & Co. to Wiltshire.
June g. and before Kershaw had sold that block
of 3, ZOO, 600 bushels of June wheat.
Mr. Wiltshire, the clique representative. is a
good looking of fortv-fve. He resembles
Al Gage a good deal in figure and features. His
left eye Is like Ben Buffers For five months
Wiltshire in Libby prison, and was once
drawn to be shot. While talking his
troubles with his lawyer, on Wednesday. he said
that his forty eight hours experience at Chicago,
he found was incomparaby worse than any
thing he suffered in Libby prison.
H. D. Wadhams & Co to-day requested all
out
Robert Lindbloom this afternoon secured an
attachment against Eggleston. Kershaws hacker,
and will it against the latters account in the
Board of Trade clearing house.
suit entered by Jones' Mccormick &
Kenneth against Maurice Roserfeld & Co. for
$45, 900; also, for $4,000 by the same plaintiffs
against G. j. Kershaw e. Co. Byron j. McCleary
commenced attachment suit against Maurice
Resented for for $4,000.
j. A. Edwards q Co.. who, during the excite
ment of the past few days, were reported to be
EN- barrassed, have responded to all calls for
margins. They announced themselves this
evening ready to meet any demands
Phil Armour and the Corner.
NEW YORK, June 1.-THE Times prints the
folIouino. Thouoh earnest efforts yere la RI